Berry Global Group (NYSE:BERY) Downgraded to “Hold” at StockNews.com

Berry Global Group (NYSE:BERY) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

BERY has been the topic of several other research reports. Morgan Stanley began coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target on the stock. Truist Financial upped their target price on shares of Berry Global Group from $68.00 to $74.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Finally, UBS Group lowered their price target on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Berry Global Group currently has an average rating of “Hold” and a consensus target price of $71.22.

Berry Global Group Stock Down 1.3 %

Shares of NYSE BERY opened at $69.37 on Tuesday. The business has a fifty day moving average of $67.18 and a two-hundred day moving average of $62.66. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. Berry Global Group has a 52-week low of $53.92 and a 52-week high of $70.86. The stock has a market cap of $7.94 billion, a PE ratio of 16.48, a PEG ratio of 1.10 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.16. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.26 billion. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the firm posted $1.90 EPS. As a group, equities research analysts expect that Berry Global Group will post 7.6 earnings per share for the current fiscal year.

Insider Activity at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the completion of the sale, the director now owns 30,228 shares in the company, valued at $2,119,889.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Berry Global Group

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC lifted its stake in Berry Global Group by 1.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,424 shares of the industrial products company’s stock valued at $555,000 after acquiring an additional 176 shares in the last quarter. Creative Planning boosted its holdings in Berry Global Group by 3.0% during the third quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 198 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Berry Global Group by 0.7% during the first quarter. State of Michigan Retirement System now owns 28,500 shares of the industrial products company’s stock worth $1,724,000 after purchasing an additional 200 shares during the last quarter. Guardian Wealth Management Inc. grew its position in Berry Global Group by 1.0% in the second quarter. Guardian Wealth Management Inc. now owns 29,623 shares of the industrial products company’s stock valued at $1,743,000 after purchasing an additional 287 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Berry Global Group by 9.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,077 shares of the industrial products company’s stock valued at $240,000 after buying an additional 355 shares during the last quarter. 95.36% of the stock is owned by institutional investors.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.